SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Contribution & Employer Match

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Contribution & Employer Match

A.S.C.I.B., L.P. provides the following retirement savings benefits to its employees:

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Average Participant Retirement Account Value

In 2023, the average participant retirement account value for SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST is $70,076.00

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST is $5,385.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
344,657.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,385.00 in SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023$22,500$66,000$7,500
401(k) contribution limit for 2024$23,000$69,000$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

Employer match in SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST

An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Total Employer Contribution and Match Rate

In 2023, SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST allocates $61,855.00 to match its employees' contributions, providing an employer match rate of 8.35% of their contributions

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST is approximately $441.00
Investing in this additonal $441.00 for 20 years would give you extra $28,276.00, assuming a 10% annual return.

SHESHUNOFF MANAGEMENT SERVICES, L.P. 401(K) PLAN AND TRUST Contribution & Match Policy

1. Employee Contribution Rates: Employees may elect to contribute up to the maximum permitted under the Code.

2. Employer Match/Contribution Conditions: Employer matching contributions equal 50% of participant contributions up to a maximum of 2% of a participant's annual compensation. Participants must complete 1,000 hours during the plan year and be employed at year end to benefit from employer contributions.

3. Vesting Schedule/Eligibility: Participants vest in the employer and profit-sharing contributions according to the following schedule: Less than 2 years - 0%, 2 years - 25%, 3 years - 50%, 4 years - 75%, 5 years - 100%. Eligibility requires employees to be at least 21 years of age and to have completed at least three months of service.

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